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TyraTech Inc

  • BY: Andrew Hore |
  • POSTED: 31/01/2014 |

Environmentally-friendly pesticides technology developer TyraTech Inc has raised 1.87m at 5p a share. 

The share price held steady at 6.13p. The share price has risen by one-third since the announcement of the launch of the Vamousse head lice product range in Walmart in March. TyraTech will use 1m to support marketing for Vamousse and the rest will go on working capital and registering new products. The placing cost 170,000.

Management is optimistic that Vamousse can secure a significant share of the $150m a year head lice control market.

TyraTech has had a number of false starts and it is important that it makes a success of this opportunity. The cash that will be spent on marketing will help to create a market for the product.

The enlarged share capital will value TyraTech at 10.3m.

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